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Updated over 1 year ago on . Most recent reply
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Title Insurance Claim?
I bought a great vacation home / rental in the socal mountains. Has a bigger lot with ample parking, which is at a premium up there.
One of the spots seemed like it was being used by a neighbor, no big deal but left them a note.
A few months later I finally meet the neighbor (they don't come up in the winter) and they have an easement.
Title company didn't disclose anything. I gave my agent the info my neighbor gave me regarding the easement. My agents title guy (different company, used seller's) said they finally found it, attached to an old lot prior to the three lots combining into one lot a few years back. They are looking more into it and will let me know.
But I want to do my own due diligence.
Do I have a claim here? I value the parking space at $50/month.
Or if the county made a mistake do I just have to eat it? Not the end of the world fortunately, had a pipe dream of a garage there some day, but not realistically considering I'd be geotechnical engineers etc. And I do have other parking spots. But still I held value in that one, particularly good parking spot.
Rimforest, CA in San Bernardino Cointy. Bought it a bit less than a year ago.
Most Popular Reply
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The title company should have searched back at least X years (around here X=60) on each parcel.
Attorneys fees are covered by your policy. Good luck. Report back.
- Tom Gimer
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